MGT100 - Small Business

Small business is defined with what two principles?

• very few employees

• independently owned

• small profits

• not dominate in its field

Small business makes up what percent of businesses in the U.S.?

• 99.7%

• 50%

• 66.7%

• 100%

Which of the following industries typically attract small business?

• distribution

• service

• production

• manufacturing

An example of a service business would include:

• repairing a car

• selling a car

• selling a house

• selling furniture

Distribution industries include which of the following:

• mowing a yard

• selling clothes to a retail store

• making computers

• real estate

Which of the following characteristics typically attract small business opportunities

• low initial capital investment

• special skill requirements

• being the boss

• high profit and growth potential